Gender gap persists in retirement readiness – report

Women are less financially prepared for retirement than men, according to an insurance firm, which attributed the gap to men’s greater access to full-time employment and asset-building opportunities that strengthen long-term financial security.

- By MARCO LUIS BEECH

In its report, life insurer InLife said that pension program coverage remains concentrated among married individuals and parents, leaving single and informal workers more financially vulnerable.

“Filipinos who are retirement-ready are also more prepared for health emergencies. With chronic health conditions becoming rampant as one ages, it is important to have a separate fund for health concerns,” it said.

InLife said that women averaged 45 in their retirement index out of 100, while men scored 49, underscoring the persistent gender disparity.